REC Ltd. has incorporated subsidiary company BPTL
The Authorized Capital of the company is Rs 5,00,000 and the Paid-up Capital is Rs 5,00,000.
REC Ltd. has stated that Bhadla-III Power Transmission Limited has been incorporated as a Wholly Owned Subsidiary of REC Power Development & Consultancy Limited (a Wholly Owned Subsidiary of REC Limited). The said company is also a subsidiary company of REC Limited, in terms of the provisions of Section 2(87) of the Companies Act, 2013.
REC Power Development and Consultancy Limited (RECPDCL) inter-alia acts as the "Bid Process Coordinator" for the selection of Transmission Service Providers through Tariff Based Competitive Bidding (TBCB) process, for independent inter-state and intra-state transmission projects assigned by the Ministry of Power and State Governments from time to time.
Read Also : GAIL organized 'Kanthasth 2.0' Hindi workshopTherefore, from now Bhadla-III Power Transmission Limited is a Wholly Owned Subsidiary of REC Power Development & Consultancy Limited (a Wholly Owned Subsidiary of REC Limited), and it is a related entity of REC Limited.
Read Also : Kotak Mahindra Bank Standalone PAT for FY24 Rs 13,782 crore, up 26% YoY
Central Electricity Authority, Ministry of Power, through the letter, had allocated one transmission project, wherein RECPDCL has been appointed to act as Bid Process Coordinator (BPC) for the selection of Bidder for an Additional Transmission system for evacuation of power from Bhadla-III PS as part of Rajasthan REZ Phase-III scheme (20 GW).
Read Also : IDBI Bank Limited Financial Results for Q4 FY 2024, reports 55% rise in profits on YoY basisNews Must Read
- REC Ltd received NOC to set up wholly owned subsidiary in Gift City, Gujarat
- Atanu Chakraborty Reappointed as part-time Chairman of HDFC Bank
- MRPL Q4 Results: Net profit slips 40%, Annual Gains Strong
- DMRC Celebrates 30th Foundation Day at Bharat Mandapam
- Sushil Sharma assumes additional charge of CMD, and Director (Personnel) of SJVN Limited
- Coal India Limited Board recommends final dividend, here to know
- Dr. Subhransu Sekhar Acharya assumes charge of NSIC CMD
- CIL reports mixed bag of results for Q4 of FY23-24
- NMDC's Promising Start to FY25, Targets 50 Million Tonnes
- RITES to take assessment for Vande Bharat Trains